Lullmage Mentor

Whenever a spell or ability you control counters a spell, you may create a 1/1 blue Merfolk creature token.
Tap seven untapped Merfolk you control: Counter target spell.

Deeproot Waters

Whenever you cast a Merfolk spell, create a 1/1 blue Merfolk creature token with hexproof. (A creature with hexproof can't be the target of spells or abilities your opponents control.)

Merfolk Sovereign

Other Merfolk creatures you control get +1/+1.
{T}: Target Merfolk creature can't be blocked this turn.

Have

River Sneak

River Sneak can't be blocked.
Whenever another Merfolk enters the battlefield under your control, River Sneak gets +1/+1 until end of turn.

Triton Shorestalker

Merrow Reejerey

Other Merfolk creatures you control get +1/+1.
Whenever you cast a Merfolk spell, you may tap or untap target permanent.

Island

Neutralize

Counter target spell.
Cycling {2} ({2}, Discard this card: Draw a card.)

Unsummon

Return target creature to its owner's hand.

Svyelun of Sea and Sky

Svyelun of Sea and Sky has indestructible as long as you control at least two other Merfolk.
Whenever Svyelun attacks, draw a card.
Other Merfolk you control have ward {1}. (Whenever another Merfolk you control becomes the target of a spell or ability an opponent controls, counter it unless that player pays {1}.)

Emperor Mihail II

You may look at the top card of your library any time.
You may cast Merfolk spells from the top of your library.
Whenever you cast a Merfolk spell, you may pay {1}. If you do, create a 1/1 blue Merfolk creature token.

Counterspell

Seafloor Oracle

Whenever a Merfolk you control deals combat damage to a player, draw a card.

Deeproot Pilgrimage

Whenever one or more nontoken Merfolk you control become tapped, create a 1/1 blue Merfolk creature token with hexproof.

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Kopala, Warden of Waves

Spells your opponents cast that target a Merfolk you control cost {2} more to cast.
Abilities your opponents activate that target a Merfolk you control cost {2} more to activate.